Export sales of corn were light, as expected, but old-crop sales did manage to stay in positive territory. Wheat sales were also near the lower end of expectations. Total soybean sales fell short of 72,000 MT.
Hot, stormy weather is expected for the Midwest, pressuring grain and soy futures. A bipartisan infrastructure plan gains support. And Biden and Putin agree to disagree at their summit yesterday.
Fed officials may indicate they are eyeing an interest rate increase sooner than expected, President Biden is to meet with Vladimir Putin today and China reports its pig herd surged in May...
Ahead of the Open | June 16, 2021
Soybean futures sink near 3-week low with milder weather ahead for Midwest, cattle supported by cash market strength.
Some buying returned to grain futures overnight. Markets will zero in on the Fed today and whether it bumps up its timeline for higher interest rates. Meanwhile, China is reporting its sow herd is near pre-ASF levels.
Members of the National Oilseed Processors Association crushed 163.52 million bu. of soybeans during May, marking the fourth month in a row processing has fallen short of expectations.
Corn and soybean CCI ratings came in below 5-year averages, the U.S. and E.U. announce trade truce and a House Subcommittee will discuss shipping snags...
The cooler forecast is pressuring grain and soy futures, despite some lower than expected crop condition ratings. NOPA will update the May crush today. And a truce has been reached on the U.S./EU aircraft dispute.
Hot, dry weather in the Upper Midwest and Western Corn Belt drew down corn and soybean ratings, with too much moisture slowing winter wheat harvest. Find more highlights from today's crop progress and condition update.
USDA upped the ante this year by providing greater incentives like higher rental payments as part of the Biden administration’s all-of-government approach to tackling climate change.
Wheat inspections were near the upper end of expectations and last week’s tally was revised 75,091 MT higher versus what was initially reported. Soybean inspections, on the other hand, were even lighter than expected.
Grain and soy futures are under hefty pressure on improved rain chances in the coming weeks. Feeder cattle futures are sharply higher with fat cattle near unchanged. Lean hog futures are under pressure.
Rains for the dry Northern Plains and western Corn Belt are expected to be erratic the next two weeks, with warm temperatures likely to persist. Nevertheless, grain and soy futures are under heavy pressure.
Private analytics firm IHS Markit trimmed its 2021 U.S. corn planted acreage estimate by 310,000, dropping it to 96.54 million acres, which is still above most private forecasts.
Biden explores ways to relieve refiners of RFS blending requirements, the U.S. Budget deficit has risen sharply and a bipartisan group of senators find consensus on an infrastructure proposal...
Delaware lawmakers are pressing EPA to ease refiners’ blending obligations. A bipartisan group of Senators delivered a new infrastructure proposal. And NCBA wants USDA to scrap "Product of the USA labels."
USDA will release its June S&D balance sheets today, Biden tells military personnel coronavirus and climate change are among the greatest threats and El Salvador approves bitcoin as legal currency...
More rain is coming for the Northern Plains. Weather will share the spotlight with USDA's June S&D and Crop Production Reports. JBS announces it did pay $11 million in ransom.
Confirming ag sector fears, the EPA announced today it plans to roll back the Trump Administration's
Navigable Waters Protection Rule and revise the definition of U.S. waterways that can be regulated.